Deputy Minister of Finance Thipphakone Chanthavongsa, right, shakes hands with Hungarian Export-Import Bank Deputy Director Ms Nemedi-Varga as they have signed a loan agreement in Vientiane on Jan 30, 2018

(KPL) Tuesday witnessed the signing of a loan agreement between the Government of Laos and Hungarian National Bank in Vientiane.

Signatories to the agreement included Deputy Minister of FinanceThipphakone Chanthavongsa,  and Hungarian Export-Import Bank Deputy Director Ms Nemedi-Varga.

The signing ceremony was witnessed by Deputy Minister of Agriculture and Forestry Phouangparisak Pravongviengkham, Vice Mayor of Vientiane Keophilavanh Aphaylath, and relevant officials of both sides.

The loan will be spent on three projects including US$25 million for a population management ​project that will involve ID issuance modernization; US$35 million for an agricultural development project to promote land management, grass farming and technology application for agricultural purposes, and food safety improvement among others in Vientiane, Luang Prabang, Vientiane (province), Xaysomboun, Xayaboury and Xieng Khuang; and US$100 million for a water source protection project that will promote the treatment of waste water released by households and industrial factories.

KPL